EFunds to explore alternatives; shares rise

GabrielMadway

SAN FRANCISCO (MarketWatch) -- EFunds Corp.
efd
shares surged 12% to $32.01 in Wednesday morning trade after the Scottsdale, Ariz.-based provider of electronic payment services said it has been approached by parties who have expressed a desire to explore possible strategic alternatives. The company has asked Goldman, Sachs & Co. and BlackRock Inc., its financial advisers, to assist it in exploring all of its options, including potential merger opportunities. EFunds also reported first-quarter net income of $10.5 million, or 22 cents a share, down from $10.7 million, or 23 cents a share, in the year-ago period. Revenue in the quarter fell to $134 million from $139.7 million last year. For the full year 2007, the company now expects revenue and earnings to trend toward the lower end of its previously forecasted ranges.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.